Insurer
Simply Business closes in on MBO as Brit CEO Cloutier admits u-turn over broker commitment
Simply Business is close to a deal which will see it separate from Brit Group through a management buyout, Postonline has learnt.
Ecclesiastical promotes Hews to group CEO role
Ecclesiastical has promoted its chief financial officer to the top of the business with immediate effect.
L&G enters pet insurance market
Legal and General is to launch pet cover for cats and dogs direct, online and over the phone, as well as through Confused.com.
Industry and consumers targeted in two-part telematics guide
The Association of British Insurers and the British Insurance Brokers’ Association have teamed up to produce guidance for the industry and consumers on how to get the most out of telematics technology.
Bike aggregator boss banned for eight years
Alexis Jon Stone, director of the motor insurance comparison website Bike Insurer Services, has been disqualified for eight years after The Insolvency Service found he had paid himself or his American company ahead of other creditors.
Penny speed meets... Ed Rochfort, product director, Carrot
Being an insatiable socialite, Penny Black is always eager to probe the personalities behind the professional veneer of her industry friends. What better way to squeeze in and share as many intimate revelations as possible than her very own ‘speed…
Ageas agrees out of court settlement with ex-Castle Cover shareholders
Ageas has confirmed it has reached an out of court settlement with a number of former senior Castle Cover figures.
News review: 2 May 2013
A round-up of news stories from this week.
Markel records COR boost
Markel Corporation has announced a 9% improvement in its combined operating ratio for the first quarter of 2013.
Cooter targeting brokers in Covéa commercial lines relaunch
Covéa is planning to corner the difficult commercial lines market by winning over brokers through building closer relationships.
Turnover on the rise as Allianz GA rebalances worldwide reach
Allianz Global Assistance has recorded a 9% rise in growth in global turnover last year, exceeding the proclaimed objective of €2.2bn (£1.9bn).
Regulatory uncertainty raises domicile questions
Splitting tax domiciles and regulators could be an enticing prospect for insurance groups looking to avoid the European Union’s Solvency II regulations.
Sime set for Zurich move
RSA sales and strategic relationships director Chris Sime has been named as Zurich’s head of broker market for Scotland.
89% of young professionals underinsured: L&G
Nine in 10 18-27 year old professionals would be unable to replace their belongings after a fire flood, even where they have insurance, according to L&G.
Planned reductions results in Q1 GWP shrinkage at Novae
Novae Group chief executive Matthew Fosh has described the first three months of the year as “a solid start”, despite seeing his firm’s gross written premium shrink to £184.6m (Q1 2012: £231.1m)
Lords’ EL U-turn brings uncertainty and will lead to satellite litigation
Insurers have been warned they may face increased indemnity spend for employers’ liability claims, as legislation passed by the House of Lords last week in the form of the Enterprise & Regulatory Reform Act 2012 will require time-consuming and costly…
Editor's comment: A bit of common sense
Last week, the House of Lords turned back the clock 100 years on employer liabilities for breaches of health and safety duties and passed what has been referred to in its very chambers as an “ugly” part of the Enterprise and Regulatory Reform Bill.
Simplyhealth targets SME market with PMI product
Simplyhealth is targeting small to medium sized businesses with a new private medical insurance proposition.
European court considered as Primo trademark battle continues
Primary Group-owned Qmetric is understood to be considering registering one of its insurance brand names with the European Union’s trademark after its application in the UK court was turned down.
Telematics Expo: Magic number is 200 says Aviva
Telematics can reliably predict the future driving style of a customer after 200 miles of use according to Aviva's GI partnerships and business development director Simon Warsop.
Career file - Neil Freshwater: Former Catlin CFO takes on Zurich role
Zurich has appointed Neil Freshwater to the role of chief financial officer for its general insurance and shared services business in the UK.
Ask the expert: Interview process
With competition for jobs so fierce, and the interview process becoming much more arduous, how do I make my application stand out from the crowd?
Market Moves: Ecclesiastical, Hiscox and Mitsui Sumitomo lead the way in busy week for insurers
This week saw a host of major insurers complete hires in business areas ranging from sales to claims. Among the firms leading the recruitment race were Hiscox, Ecclesiastical and Mitsui Sumitomo. Elsewhere, while the broking sector registered little of…
Telematics: Taking the wheel?
Will plans by car manufacturers to fit telematics black boxes to new vehicles see them become major players in the motor insurance sector?